capital is the result of saving, and not of spending. The spendthrift who wastes his substance in riotous living decreases the capital of the country, and therefore the excuse often made for extravagance, that it is good for trade, is based upon false notions respecting capital.
Millicent Garrett Fawcett (1870). “Political Economy for Beginners”, p.28, London ; Cambridge : Macmillan
